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Kyrgyz Republic announces issuance of gold-backed stablecoin
21 November 2025 Kyrgyz Republic
Image: pikoso.kz/stock.adobe.com
The Kyrgyz Republic has launched the first issuance of its national stablecoin, USDKG, backed by physical gold and pegged to the US dollar.
The launch issuance ceremony, in which approximately 50.1 million USDKG tokens were officially circulated, was attended by Sadyr Japarov, President of the Kyrgyz Republic, among other high-ranking officials, including the CEO of Gold Dollar, Biibolot Mamytov.
USDKG is fully supported by the Kyrgyz Republic and is said to be designed as a transparent, secure, and stable digital currency, leveraging the reliability of gold in conjunction with blockchain technology.
According to the Republic, the stablecoin lays the foundation for the development of Web3 infrastructure, in addition to allowing for a greater number of technological partnerships.
Under a contractual agreement, gold management and other operational control are delegated to a private company registered in the Kyrgyz Republic.
The launch issuance ceremony, in which approximately 50.1 million USDKG tokens were officially circulated, was attended by Sadyr Japarov, President of the Kyrgyz Republic, among other high-ranking officials, including the CEO of Gold Dollar, Biibolot Mamytov.
USDKG is fully supported by the Kyrgyz Republic and is said to be designed as a transparent, secure, and stable digital currency, leveraging the reliability of gold in conjunction with blockchain technology.
According to the Republic, the stablecoin lays the foundation for the development of Web3 infrastructure, in addition to allowing for a greater number of technological partnerships.
Under a contractual agreement, gold management and other operational control are delegated to a private company registered in the Kyrgyz Republic.
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